@Tejas Pandya@Chhote Lal@UjwalG@Dhiraj Ramchandani Do banks play any role in properly submitting the IPO application which when not met leads to non-allotment? I know banks only play the role of unblocking the funds and it's the registrar who allot. But curious should I change my bank (SBI 🙃) to get proper submission of application?
198.1. Modi Adani| Link| Bookmark|
March 2, 2024 10:06:24 AM
Top Contributor (600+ Posts, 200+ Likes)
Bank does not play major roles in it. For mainline IPO, I always apply using SBI ASBA from parents account. And got some allotment too. Mine account is in kotak, and i also got few time using KOTAK ASBA.
Some bank releasing fund early incase of non allotment. But its not linked in case of application allotment.
@ROAR: Nope, never heard of bank playing any role tbh, and logically they cannot influence this in any way. Yes, when it comes to LM & Registrar, they both can play a significant role. Like, I have experienced and now confirmed, when you have your account in ICICI-Direct and if it is LM in any IPO, your chances of allotment (somehow, cannot prove it on paper) increase.
This is correct link, they have not uploaded yet. When they will be uploading it will be available in dropdown. Also you can refer unblocked/debited messages from your bank to get clue of your allotment.
Got it through sbi asba for tata, but applied for bhni and got allotment under shni and rest was unblocked, don't know why that happened? Anyone any idea about it?
192.10. UjwalG| Link| Bookmark|
March 2, 2024 10:11:04 AM
IPO Guru (1300+ Posts, 600+ Likes)
@Kaulav The subscription you see on bse,nse or cg site is amount wise subscriptions and not applications wise. In bhni a single applications is of 10lk min but you get only 2lk worth of shares. So total subs has to be divided by 5 to get approx number of applications in bhni category. Hence 163/5= ~32x is my real subscription in bhni. I suggest to read more on cg website about bhni. Cheers
Lagta hai abh raat ko 2 baje se phele nahi aayega kindly check tomorrow today not possible for Linkin time to Manage time for roll out of the allotment